Lighting as a Service Market Synopsis
Lighting as a Service Market Size Was Valued at USD 2.66 Billion in 2023, and is Projected to Reach USD 55.85 Billion by 2032, Growing at a CAGR of 40.25% From 2024-2032.
The Lighting as a Service (LaaS) Market refers to the industry segment focused on providing lighting solutions to commercial, industrial, and residential clients through a service-based model rather than traditional ownership or procurement methods. Instead of purchasing lighting equipment outright, customers enter into service agreements with LaaS providers, who supply, install, manage, and maintain the lighting infrastructure. Under LaaS arrangements, customers typically pay a recurring fee based on usage, which covers the installation, maintenance, energy consumption, and upgrades of the lighting system. LaaS providers often leverage advanced technologies such as LED lighting, smart controls, sensors, and energy management systems to deliver efficient, cost-effective, and sustainable lighting solutions.
Major Key Players Mentioned in this Premium Report
· Future Energy Solutions (US)
· GE Lighting (US)
· FSG Electric & Lighting (US)
· Lunera Lighting (US)
· Wolfspeed (US)
· Mysupplier (US)
· SIB Lighting (US)
· Cree Inc. (US)
· Osram (Germany)
· TRILUX (Germany)
· Designing Buildings (UK)
· Airis Energy (UK)
· EGG Lighting (UK)
· Signify (Netherlands)
· Eaton (Ireland)
· ESB Corporate (Ireland)
· Zumtobel Group (Austria)
· Arquiled (Portugal)
· TellCo Europe (Switzerland)
· Arc Renewables (India)
· Energized Solutions (India)
· Centropi (Singapore)
· Itelecom (Chile), and other major players
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Future Opportunities for The Global Lighting as a Service Market
The future of the Global Lighting as a Service (LaaS) market holds promising opportunities, especially within the commercial sector. With a focus on energy conservation and sustainability, businesses are increasingly attracted to LaaS for its ability to provide energy savings and reduce operational costs. In particular, the indoor installation segment is expected to maintain its dominance, fueled by the rapid growth of the commercial sector in emerging economies. However, the outdoor segment is projected to exhibit the highest Compound Annual Growth Rate (CAGR) in the coming years.
One key driver for the growth of outdoor installations is the integration of the Internet of Things (IoT) technology, which enhances the efficiency of street lighting solutions. This trend is particularly relevant for applications such as street lighting, parking garages, parks, and recreational areas. The convergence of IoT with outdoor lighting not only improves functionality but also enables smarter and more sustainable urban environments. The LaaS market is poised for significant expansion, driven by the increasing demand for energy-efficient lighting solutions and the integration of innovative technologies like IoT.
Learn more about key segments shaping this market
By Component
· Luminaries and Controls
· Software and communication systems
· Service
By Technology
· LED LaaS
· Connected LaaS
· Solar-powered LaaS
By Installation
· Indoor LaaS
· Outdoor LaaS
By End-User
· Commercial LaaS
· Industrial LaaS
· Municipal LaaS
· Residential LaaS
North America (U.S., Canada, Mexico)
Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
South America (Brazil, Argentina, Rest of SA)
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Segmentation analysis
The key components of the Lighting as a Service Market include lighting fixtures, control systems, sensors, software platforms, and service offerings. These solutions aim to enhance energy efficiency, reduce operational costs, improve lighting quality, and provide flexibility and scalability to meet the evolving needs of customers. The LaaS Market is driven by factors such as increasing demand for energy-efficient lighting solutions, rising awareness of sustainability practices, and the desire for hassle-free, turnkey lighting solutions among businesses and organizations.
Additionally, the shift towards smart and connected lighting technologies and the growing emphasis on circular economy principles contribute to the growth and evolution of the Lighting as a Service Market. Overall, Lighting as a Service represents a paradigm shift in the way lighting solutions are delivered and managed, offering customers the benefits of improved lighting performance, reduced environmental impact, and lower total cost of ownership without the upfront capital investment.
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In order to better analyse value chain/ supply chain of the industry, a lot of attention given to backward & forward Integration
- Lighting as a Service Market Manufacturers
- Lighting as a Service Market Distributors, Traders or Wholesalers
- Lighting as a Service Market Sub-component Manufacturers
- Industry Association
- Downstream Vendors
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